RedfinNow Expands to Phoenix

Rhea-AI Summary

RedfinNow has launched its iBuying service in the Phoenix metro area, allowing homeowners to sell their properties conveniently. Sellers can receive competitive cash offers without the stress of home repairs or showings. RedfinNow complements Redfin's brokerage services, offering sellers the choice between a cash offer or traditional sale. Homeowners can select their closing date between 10 and 60 days after accepting the offer. This launch enhances Redfin's existing services, which include full-service brokerage at a low listing fee of 1%. More information is available at www.redfin.com/now.

Positive

• Launch of RedfinNow expands market reach in Phoenix, increasing potential revenue.
• Convenient cash offer process appeals to homeowners, enhancing customer acquisition.
• Sellers can choose flexible closing dates, providing enhanced customer experience.
• Redfin's low listing fee of 1% attracts sellers looking to save on commissions.

Negative

• None.

PHOENIX, Jan. 6, 2021 /PRNewswire/ -- (NASDAQ: RDFN) -- RedfinNow announced it has launched in the Phoenix metro area, giving homeowners a convenient new way to sell. RedfinNow is the iBuying service from Redfin (www.redfin.com), the technology-powered real estate brokerage. Sellers can request a cash offer for their home directly from RedfinNow and sell without the hassle of fixing up their homes or clearing out for open houses and private showings.

"RedfinNow provides a safe and convenient way for people to get a competitive cash offer for their home and sell without having to stress about getting their home ready or having strangers come through," said Jason Aleem, vice president of RedfinNow. "In a red-hot housing market like Phoenix, RedfinNow is a great solution for people who need the cash from their current home to make a winning offer on their next. We let sellers choose their closing date, so they have the money to complete their purchase and only have to move once."

RedfinNow complements Redfin's full-service brokerage by giving sellers the option of either selling on the open market with a local Redfin agent or selling directly to RedfinNow. Redfin's real estate agents, who have been helping clients buy and sell homes in Phoenix since 2010, provide a full-service offering for a listing fee as low as 1%. 

"Giving sellers the option to compare a cash offer with a brokered sale is part of our mission to redefine real estate in the consumer's favor," said Aleem. "For sellers who value convenience, certainty and speed, RedfinNow is often the best choice. Sellers who want to get top dollar at the lowest fee will often choose to list with a Redfin agent."

To request a cash offer, homeowners simply visit www.redfin.com/now, type in their address to see if their home is eligible, and provide some basic information about their home. Sellers can pick their closing date between 10 and 60 days from accepting their offer.

Once RedfinNow owns a home, it makes updates and then lists the home for sale on the open market. Redfin makes it easy for buyers to safely tour RedfinNow listings without an appointment. Buyers can unlock the door of most RedfinNow homes with the Redfin app and self-tour seven days a week, from 8 am to 8 pm, with or without an agent.

Redfin makes it easy for buyers to safely tour RedfinNow-owned homes without having to contact an agent. Buyers can unlock the door of most RedfinNow listings with the Redfin app and self-tour seven days a week from 8 am to 8 pm, no appointment needed. RedfinNow listings also have an immersive 3D walkthrough that lets buyers explore homes online.

In late 2020, RedfinNow launched in San Francisco and Seattle. It is now available in every major metro area of California, including the Inland Empire, Los Angeles, Orange County, Palm Springs, Sacramento and San Diego, as well as several markets in Texas and Colorado.

To learn more about RedfinNow and to request an offer for your home, visit www.redfin.com/now.

About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer's favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country's #1 nationwide brokerage website, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we've helped them buy or sell more than 235,000 homes worth more than $115 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.

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SOURCE Redfin

FAQ

What is RedfinNow and how does it work?

RedfinNow is an iBuying service by Redfin that allows homeowners to receive cash offers for their homes without repairs or showings.

When did RedfinNow launch in Phoenix?

RedfinNow launched in the Phoenix metro area on January 6, 2021.

What options do homeowners have with RedfinNow?

Homeowners can choose between receiving a cash offer from RedfinNow or selling through Redfin's full-service brokerage.

What fees are associated with listing a home with Redfin?

Redfin offers a full-service brokerage with a listing fee as low as 1%.

How quickly can sellers close on their homes with RedfinNow?

Sellers can choose their closing date between 10 and 60 days after accepting the offer from RedfinNow.